Central Financial Services

Memorandum
To: ALL UNIVERSITY DEPARTMENTS From: Kathy Huber, Accounting Manager and Sarah Howell, Accounting Supervisor Date: May 28, 2013 Updated May 30, 2013 Re: Fiscal Year 12/13 (FY13) Year-End Closing We are quickly approaching June 30, 2013, the Universitys FY13 fiscal year close. With that in mind, we thought we would take some time to review the year-end closing procedures. All transactions for FY13 operations must be processed by specific dates throughout June and July. The attached calendar is available to assist you with these deadlines. We hope this will provide you with the information you need to plan for year-end. If there are any questions or problems concerning the year-end closing process, please contact Kathy Huber, Accounting Manager, at 494-2028 or huberk@ohsu.edu.

Important Notes: We are allowing one extra day for JE submission and two extra days for IBS entries to
allow extra year-end processing time. (Section V). All deadlines will be strictly enforced, including journal entry submissions to CFS and the Foundation.

Do not pre-spend for FY14 goods or services by submitting invoices in FY13. Foundation transfers will be allowed after Dept. reports are available. (Section VI-B) Remember that Cognos (Variance Reporting) is updated nightly. OGA (grants) closes one day late for June, with reports available on Tuesday, Jul. 9. Final GL reports will be available Monday, Jul. 29. (Section V). I. PURCHASE REQUISITIONS In order to be charged against FY13 budgets, goods or services must be delivered and received in Oracle by 5:00 p.m. on Friday, Jun. 28. II. VENDORS INVOICES A. Vendor invoices received in Accounts Payable by 5:00 p.m. on Thursday, Jun. 20 will be processed on the June 2013 general ledger and charged to FY13. Please plan ahead to get your transactions to Payables early.

YEAR END MEMO Fiscal Year 2013 Central Financial Services

B. After Thursday, Jun. 20, the following criteria must be met in order to guarantee an invoice will be recognized against FY13: The total invoice amount must be greater than $1,000. As time permits, other invoices under $1,000 will be entered in Oracle and will be included in our year-end accrual process, but only the invoices over $1,000 and meeting the other requirements are guaranteed to be included. The goods or services must be delivered, and received in Oracle, by Friday, Jun. 28. The vendor invoice must be received by Accounts Payable by Monday, Jul. 8. The invoice must have an invoice date of June 30, 2013 or prior. C. Please respond to Accounts Payable requests for information in a timely manner. This will assist in the resolution of old items and eliminate backlogs at year-end. D. Invoices on Hold Holds on existing invoices must be resolved timely. Start today by running the Invoices on Hold by Fund/Org and POETA report routinely to identify, resolve holds on invoices for your account(s), and respond timely to all alerts and email notifications. Instructions for running the reports is available on the Payables website to guide you at: http://ozone.ohsu.edu/finance/AP/PIO/index.htm III. DISBURSEMENT REQUESTS & TRAVEL EXPENSE REIMBURSEMENTS A. All disbursement requests charged to University accounts should be submitted to Accounts Payable at disbursements@ohsu.edu or mail code L332AP by 5:00 p.m. on Thursday, Jun. 20. Disbursement requests received after Thursday, Jun. 20 and totaling over $1,000 need to be submitted no later than Monday, Jul. 8. B. Employee travel expense reimbursements must be submitted to the Travel Office by 9:00 a.m. on Friday, Jun. 14 to be processed in the FY13 General Ledger. All activity through June 30, 2013 should be included in the disbursement/reimbursement requests. IV. PAYROLL EXPENSES and DISTRIBUTION ADJUSTMENTS A. Departments may process Distribution Adjustments in the Labor Distribution module through end of day Saturday, Jun. 29 to be recorded in the FY13 General Ledger and Oracle Grants Module. Travel related adjustments should be processed on or before Wednesday, Jun. 19. Grant related adjustments that will require SPAs approval should by processed on or before Monday, Jun 24. B. In order to ensure accurate expense reporting, it is crucial that payroll suspense be resolved for each department. Departments should be routinely reviewing the data warehouse report Payroll Suspense by Dept Org and processing distribution adjustments accordingly. C. Onetime payment requests must be received by HR by 5:00 p.m. on Monday, Jun. 10. V. JOURNAL ENTRIES Page 3 of 4
Last updated: May 28, 2013

YEAR END MEMO Fiscal Year 2013 Central Financial Services

A.

All journal entry transactions applicable to FY13 activity should be processed on Junes general ledger. All journal entries related to FY13 operations are due to CFS by 5:00 p.m. Friday, Jul 5. Please e-mail all journal entries to jecfs@ohsu.edu, paper copies are no longer accepted. B. In order to minimize the last minute rush; please submit any June journal entries you may have as they are completed. Please do not wait until the deadline.

C.

Preliminary departmental reports can be run beginning Tuesday, Jul. 16. Correcting journal entries (as well as transfers and subsidies) based upon the preliminary reports must be submitted to the

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YEAR END MEMO Fiscal Year 2013 Central Financial Services

appropriate business office by 5:00 p.m. on Thursday, Jul. 18, to be included in FY13 activity. Due to the volume of entries, only correcting and transfer journal entries will be accepted. (This does not include Foundation transfers see next section.) NOTE: The preliminary detail general ledger reports, available Tuesday, Jul. 16 should be used only for determining corrections. Final reports for June 30, 2013 will not be available until Monday, Jul. 29. These final reports are subject to change if audit adjustments are required at the department level. You will be notified if any audit adjustments are necessary. VI. FOUNDATION REIMBURSEMENTS Including FPP/FPPR Transfers A. All OHSU Foundation Reimbursement forms are due at the Foundation by 5:00 p.m. Friday, Jul. 5. This includes requests for transfers of operating support. The reimbursement form is located on the Foundation website accessible through the O-Zone at http://ozone.ohsu.edu/ohsufoundation/forms.shtml B. The Foundation will allow appropriate adjusting transactions to be submitted after the departmental reports are available on July 16. All adjustments/transfers must reach the Foundation office by 5:00 p.m. on Tuesday, Jul. 16. *This deadline will be strictly enforced! C. Transfers between FPP (Faculty Practice Plan) accounts and corresponding Foundation FPPR (Faculty Practice Plan Reserve) accounts must be submitted to the Foundation by 5:00 p.m. on Tuesday, Jul. 16. VII. IBS & P-CARD TRANSACTIONS IBS transactions must be submitted by 10:00 a.m. on Monday, Jul. 8. These files should include all activity through June 30, 2013. You will not be allowed to charge FY13 activity to departments after this time . All p-card transactions must be posted before the p-card billing cycle closes on Tuesday, Jun. 25 to ensure they will be billed in FY13. VIII. CASH RECEIPTS All FY13 cash or check deposits to University accounts must be submitted to the Cashiers Office by 5:00 p.m. Friday, Jun. 28. IX. EXTERNAL BILLING Accounts Receivable (AR) is responsible for billings to outside agencies that are not student, patient, or grant related. To ensure that revenue related to external billing of OHSU customers is recorded in FY13, billing requests must be to AR by 12:00 noon on Tuesday, Jun. 25. Unlike the IBS system, there is no capability to post invoices to prior periods past the last day of the month.

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X. GIFT FUNDS

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Beginning in FY13, based on new policy, gift funds will no longer receive interest income. XI. SUSPENSE/CLEARING ACCOUNTS All suspense and clearing accounts must be cleared to a zero balance at June 30, 2013. Please have these accounts cleaned up prior to June 30.

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YEAR END MEMO Fiscal Year 2013 Central Financial Services

XII. RECONCILIATIONS Reconciliations for all balance sheet accounts (except inventory) need to be submitted to CFS by Tuesday, Jul. 23 via email to Anthony Ward at wardan@ohsu.edu, subject: YR End Balance Sheet Reconciliation. Please be sure that the ending balances on your reconciliations reflect any correcting journal entries you have submitted. Please include a copy of your supporting schedules. If the schedules are too large to include, please contact Anthony Ward by e-mail or at 4-1027 to determine what needs to be sent. XIII. INVENTORIES A. All inventory counts and reconciliations for inventory levels at June 30, 2013 for the following locations must be submitted to Central Financial Services by 5:00 p.m. Friday, Jul. 19 (sooner if possible). Please email completed inventory pdf files to Jeanne Militante at militant@ohsu.edu, subject: YR End Inventory. If you need physical inventory count procedures to assist you in your counts and reconciliations please contact Jeanne Militante at 4-0078. These procedures have not changed from last year. B. Please e-mail Jeanne Militante if you are going to have any deviations from the June 30, 2013 physical inventory date and we will discuss other options. The following inventories need a physical count and reconciliation: Object Number 1608 1610 1614 1616 1617 1618 1619 1621 Account Names Dental Clinic Stores Inventory Stores Inventory Research SOM/SON/SOD Book Store Inventory Hemo Inventory Dental Student Issues Metabolic Inventory West Campus Stores InventoryMaintenance Facilities Inventory

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June 2013
Sunday Monday Tuesday Wednesday Thursday Friday Saturday

5:00 p.m.: One-time payment requests received in HR.

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9:00 a.m.: Travel expense reimbursemen ts due.

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Travel related Labor Distribution adjustments completed

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5:00 p.m.: All Vendor Invoices & Disbursements due to A/P.

21 5:00 p.m.: 22

Grant related Labor Distribution adjustments completed

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12:00 noon: External billing (nonIBS) to A/R.

-Cash Receipts due to Cashiers Office -Last day for receipt of goods 26 27

EOD: Labor Distribution adjustments completed.

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July 2013
Sunday Monday Tuesday Wednesday Thursday Friday Saturday 12:00 noon: Payroll accrual recorded EOD: OHSU Foundation Holiday recognized reimbursements due to Foundation. EOD: Journal Entries due to CFS 30 10:00 a.m.: IBS entries due to CFS.
12:00 noon: Invoices & Disbursements over $1,000 to A/P (to be included in accrual)

OGA reports available

A/P Accrual Posted

IBS/AR/OGA/Facilities to Close 8 8:00 a.m.: Preliminary FUF/RUF Entries Department posted Reports available.

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Last day for submitting

Inventory Count sheets &

EOD: OCA Posted

Soft Close for departments

5:00 p.m.: Last day to submit Foundation reimbursements

correcting, transfer, or subsidy reconciliations due to CFS

Entries to CFS 16 17 18

Journal

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GL reconciliatio ns due to CFS

12:00 noon: Final Close Loan/Scholar for ship fund & Departments FPP (CFS interest /HFS entries ) recorded

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8:00 a.m.: Department Reports are final pending any Audit Adjustments.

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August 2013
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Audit schedules due to Accounting Manager 4 5 6 7 8 9 10

Auditors scheduled to arrive to begin yrend audit.

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